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IVG plans to invest another Euro 66m in Infopark

Germany's IVG Immobilien, one of Europe's biggest real estate stock corporations, plans to invest a further Euro 66 million (Ft 16.5 billion) in Budapest's Infopark, a research and office complex, by the end of 2007, IVG Immobilien president John von Freyend said at a press conference on Friday. IVG is currently building

Infopark's 12,700 sqm "C" building and will finish by April. The Euro 25 million building's first tenant, Freesoft, has already signed a contract to rent 1,400 sqm, and a preliminary contract to rent 3,500 sqm has been signed with T-Systems, the IT company of Deutsche Telekom. DT subsidiaries Axelero Rt and Matav Rt already have offices in Infopark. IVG expects to recoup its investment in Infopark in about 13 years.

(BBJ 07.iii.05)

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